As events unfold and cause changes day by day, sometimes hour by hour, it’s not easy for anyone to keep up. For the time being, we’re going to try to break down “what’s happening” in our market, a little at a time.
Let’s assume you were hoping to sell or buy a home within the next few weeks or months, but aren’t actually in the process. The following will definitely affect you if you decide to ramp it up:
- As of noon, March 24, 2020, there is a “work from home” order in place in MA for all non essential businesses until April 7. It means no face-to-face meetings.
- 3rd party service providers (photographers, stagers, contractors, appraissers, inspectors, real estate agents, etc.) are not allowed to go out. Service providers can work, consult, talk, conference and advise as long as it’s from their own homes. No face-to-face meetings.
- The back log in lending (caused by a slew of recent refinancing) is growing and slowing the sale/purchase process. No face-to-face meetings.
- County and town offices (registry of deeds, final water meter reads) are closed and/or only allowing electronic filing. Again. No face-to-face meetings.
- Notarization issues abound. Because we’re under “stay at home” rules, attorneys can no longer “witness” and notarize deeds, mortgages, 6D certificates, etc. No face-to-face meetings.
Some of these issues (like notarization) have been resolved. But it’s still far from business as usual.
What to do?
It’s simple. Wait. This will pass and we’ll all be able to go back out again.
We’ll be posting again soon with some data. We hope this helps.
Bob and Sue McDermott • Kenny MacCarthy • Gibson Sotheby’s International